Almost four months after Ethereum’s successful shift to a proof-of-stake network, the second-biggest blockchain by market cap has passed another major milestone. More than 16 million ether (ETH) have been deposited into Ethereum’s Beacon Chain staking contract, data from Etherscan shows.

The 16 million ETH figure constitutes more than 13.28% of the total ether supply and represents nearly $22.38 billion at current prices. It comes nearly two years after Ethereum’s staking contract went live in 2020, when the network’s proof-of-stake Beacon Chain was first introduced.

(By Sage D. Young)